Global Food Diagnostics Market Size By Type (Systems, TestKits, Consumables), By Site (In house, Outsourcing), By Application (Processed Food, Dairy Products, Meat and Poultry), By Geographic Scope And Forecast

Food Diagnostics Market Size And Forecast

Food Diagnostics Market size is valued at USD 14.51 Billion in the year 2021 and it is expected to reach USD 27.96 Billion in 2030, growing at a CAGR of 7.55% from 2023 to 2030.

The global Food Diagnostics Market is growing at a rapid pace over the past few years. The increasing demand for Food Diagnostics is driven by the need for greater food safety, regulatory compliance, and transparency in the food industry across the globe. In addition to this, rising innovative methods for Food Diagnostics are anticipated to offer various growth opportunities over the forecast period.

Global Food Diagnostics Market Definition

Imagine Food Diagnostics as a detective for your dinner! It's all about figuring out exactly what's in your food, digging deep to spot any unwanted guests like contaminants or things that shouldn't be there. This detective work involves using cool tools and methods to sniff out and measure these substances. Ultimately, Food Diagnostics aims to keep our food safe, ensure it's top quality, and prevent anyone from pulling a fast one with food fraud or sneaky mislabeling. Think of it as a way to analyze food for its important stuff (nutrients!), potential dangers (pathogens, allergens), and other things. And how do they do it? Well, they might use some fancy tech like chromatography, mass spectrometry, PCR, ELISA, or even NMR spectroscopy.

These techniques can be used for a wide range of applications, including testing for pesticide residues, measuring the nutritional content of foods, detecting foodborne pathogens, and identifying allergenic ingredients in food products. Food Diagnostics is an essential part of the food industry and plays a crucial role in ensuring that food products are safe, authentic, and meet regulatory requirements. Food Diagnostics is also used to verify the accuracy of labeling information, detect food fraud, and monitor food quality throughout the supply chain.

Global Food Diagnostics Market Overview

Increasing concern for food safety is one of the key factors that is propelling the growth of the global Food Diagnostics marketAs foodborne illness outbreaks continue to occur, there is growing awareness and concern for the safety of the food we eat. Food Diagnostics plays a crucial role in detecting and preventing foodborne pathogens, such as Salmonella and E. coli. Furthermore, governments around the world are implementing more stringent regulations to ensure food safety and quality. Food Diagnostics is essential for complying with these regulations and ensuring that food products are safe for consumption.

Okay, so the price tag on Food Diagnostics could slow things down, even though there's a real need for it. More and more people have allergies and intolerances, making it super important to label food accurately and spot those sneaky allergens like peanuts, tree nuts, and gluten. Food Diagnostics? It can do that! Plus, people want to know exactly what they're eating. Food Diagnostics can give them the lowdown on nutrition, where the food comes from, and if it's the real deal.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Food Diagnostics Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the global Food Diagnostics Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Food Diagnostics Market Segmentation Analysis

The Global Food Diagnostics Market is Segmented on the Basis of Type, Site, Application, And Geography.

Food Diagnostics Market, By Type

• Systems
• TestKits
• Consumables

Based on Type, the market is segmented into systems, test kits, and consumables. The system segment held the largest market share in the Food Diagnostics Market in 2021. rising demand for the various types of systems for Food Diagnostics propelling the growth of this particular segment. These systems are particularly useful for identifying any contamination or impurities while manufacturing, processing, and packaging of the food. The test kits segment is anticipated to grow at the highest CAGR over the forecast period.

Food Diagnostics Market, By Site

• In house
• Outsourcing

Based on Site, the market is segmented into in-house and outsourcing. The outsourcing segment dominated the global Food Diagnostics Market with the highest market share in 2021. Increasing stringent government regulations to ensure food safety is one of the key factors driving the growth of the market. Furthermore, Food Diagnostics outsourcing companies offer key expertise to test and ensure food safety.

Food Diagnostics Market, By Application

• Processed Food
• Dairy Products
• Meat and Poultry
• Others

Based on Application, the market is segmented into processed food, dairy products, meat and poultry, and others. The meat, poultry, and seafood segment dominated the global Food Diagnostics Market with the highest market share in 2021. In the meat and poultry sector, there is a risk of contamination being passed from batch to batch, and cleaning of meat, poultry, and fish inspection equipment must go well beyond normal hygienic requirements.

Overall, as the trend towards more prepared or partially prepared products and combinations continues, a sizable percentage of meat and poultry facilities are using a greater range of dry and liquid components. These choices can come in the form of condiments like mustard, marinades, sauces, and herb and spice mixes, as well as other meals that are paired with the main meat or poultry dish. As a result, manufacturers have to be more circumspect about contaminant detection.

Food Diagnostics Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Geography, the Global Food Diagnostics Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Europe region accounted for the highest market share in the global Food Diagnostics Market in the year 2021. The growing implementation of stringent government regulations related to food safety across the region is one of the significant factors boosting the growth of the market. In addition to this, growing food-borne illness in the Europe region also driving the demand for food diagnostics.

For instance, according to the report of the EFSA and the European Centre for Disease Prevention and Control, in 2021 there were 4,005 foodborne outbreaks in the EU – a 29.8% increase compared with 2020. The Asia Pacific region is anticipated to grow at the highest CAGR over the forecast period. Rising awareness about food safety is one of the significant factors boosting the growth of the market.

Key Players

The “Global Food Diagnostics Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are 3M Company, Danaher Corporation, Merck KgaA, Thermo Fisher Scientific Inc., Neogen Corporation, Agilent Technologies Inc., Biorex Food Diagnostics, Biomerieux Sa, Bio-Rad Laboratories, Inc., Randox Food Diagnostics among others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the players mentioned above globally.

Key Developments

• In January 2021, Neogen Corporation announced the acquisition of Megazyme, Ltd., an Ireland-based supplier of analytical solutions used by quality control laboratories in the global food and beverage industries.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

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Reasons to Purchase this Report

We'll take a good hard look at the market, breaking it down by different groups based on things like money and other influences. You'll get the market value (in USD Billion, mind you!) for each of these segments and their smaller parts. We'll also point out which region and segment we think are going to grow the fastest and be the biggest overall. Plus, we'll dig into each geographic area, showing you how much of the product/service they're using and what's driving the market there. Finally, we'll give you the competitive scene, including ROI of the top players, recent launches, partnerships, expansions, and acquisitions from the last five years. And of course, detailed company profiles.